UPDATE:Two videos on common types of scams and how to avoid being the next victim.

--------------------------------------Often, we hear the saying that if it sounds too good to be true, it probably is. However, could we be missing out on something good if we simply tell ourselves this each time there is a deal which looks too good to be true?So, how do we tell if something is a genuinely good deal or if it is a well disguised pit. For sure, it is not easy. Even very savvy people have been victims of con jobs because if a con artist is a professional, he could have almost all the grounds covered. I say "almost" because the most elaborate of con jobs would still have loopholes.How do we discover loopholes, if any? Who better to learn from than a professional con artist?

I read this in the weekend edition of The Business Times, 30 June - 1 July 2012:"I am a proven liar. Don't believe anything I say," said Samuel Israel. He is the hedge fund manager convicted of running a US$450million Ponzi scheme who faked his own suicide in 2008 to avoid his prison sentence before turning himself in after a worldwide manhunt.When asked what can an investor do to avoid being conned, he said, "Seek as much transparency as possible. If they do not understand exactly how a manager is making money, do not invest. If there is a secret process that cannot be explained, run."Investors are sometimes too busy looking for profits to notice where the truth ends and the deception begins.

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comments:

Con man like hunter set the trap only...if u can't find the time to understand or educate urself .....80% of the time u choose to believe or trust the other party presume that he knows his stuff or just for convenient sake......how many time u will read those lengthy instructions or terms before u sign on the dotted line?

The biggest con job and the biggest cause of our losses will come from the next big crash.

I never ever want to believe that the PIGS can solve their debt without incident.

Just ask, which country in such dire situation can solve their problem within 5 years. Those country like Argentina, Iceland, Russia are individual. But these PIGS are part of the 2nd largest economy of the world, Europe.

I believe trouble will begin later part of 2012 or early 2013.This type pf play in the market have been repeated over the pass 2 yrs if you look back,

I hope you people are not con into this bear rally, But, we should ride this rally with caution to profit from it, i.e. trading along with stop, no longing for me, I have been selling to strength.

I believe we will see lower price later, this is a CON job to suck more soul into the market, to make the blood thicker and more red.Hope you people got some protection for your portfolio.

The PIIGS have their plates full and probably overflowing with problems which would take years to resolve. Could they do it? The jury is till out on this one.

All of us would have to decide how comfortable we are with the markets, yes, in the plural. It is not just the stock market. Entire economies are at stake here. If we own investment properties, would they be spared in a global recession?

I do not know what is going to happen next. So, I just do what I feel comfortable doing, bearing in mind the worst case scenario and I will say the same to anyone. :)

Another reason why it is so important to build more passive income: to get out of serfdom.

Bankers are well paid, I am sure. I have friends years younger than me in banking and they are already making low to mid 5 figures monthly salary. When I say they are doing well, they told me they are not doing well, suggesting that I am doing badly.

Two directors from Profitable Plots have been sentenced to seven and eight years' imprisonment for abetment by conspiracy to cheat charges on Monday (June 9).

Timothy Nicholas Goldring was handed a seven-year jail term, while another director, John Andrew Nordmann was given eight years' jail.

The two directors were involved in a conspiracy to cheat investors into delivering money to Profitable Plots by investing in a scheme known as the Boron CLS Bond. The total loss to investors reflected in the charges is about US$2.5 million, or over S$3.1 million.

The Accounting and Corporate Regulatory Authority (ACRA) on Wednesday (June 18) issued an advisory calling on the public to be alert when dealing with companies that do not state their name and registration number in business correspondences.

Under Section 144 of the Companies Act, firms must identify themselves explicitly during such correspondences. This is to ensure the public is aware of the identity of the corporate entity that issued the letter, and to prevent companies from "impersonating or purporting to represent another company or government agency", ACRA said.

The public can conduct a basic search via the ACRA website to find out if a company is registered, as well as check its business address, registration number and compliance rating with basic requirements of the Companies Act. Firms can file or update their records at BizFile, ACRA's online filing and information retrieval system.

ACRA cited the example of Data Register, which has been charged under Section 144 of the Companies Act.

In January, ACRA brought 52 charges against the firm, previously known as Company Register, for failing to display its company name and another 52 charges for not displaying its registration number in its correspondences with companies in November 2013.

The case is now before the State Court, and has also been referred to the Commercial Affairs Department for investigation, ACRA said.

Wisdom to tap on.

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The ideas expressed in this blog should not be construed as an enticement to buy or sell the securities, commodities or assets mentioned. The accuracy or completeness of the information provided cannot be guaranteed. Readers should carry out independent verification of information provided. No warranty whatsoever is given and no liability whatsoever is accepted for any loss howsoever arising whether directly or indirectly as a result of actions taken based on ideas and information found in this blog.